Traders upbeat despite gloomy figures

10:30am Wednesday 14th May 2008

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Optimistic city centre traders in Oxford are upbeat about the economy despite the latest set of gloomy statistics.

Figures released by the British Retail Consortium (BRC) show that high street sales nationally were down by 1.6 per cent in April compared with the same month last year - and 0.6 per cent down for the three months to April.

Graham Jones, of the Oxford High Street Business Association, admitted that "conditions were tough" but claimed the good weather was now bringing shoppers out.

He added: "Perhaps the fact that the pound is down against the Euro and the Dollar is bringing in an early influx of tourists."

Richard Alden, chairman of the Covered market Traders Association, said: "Food prices are going up and of course there is also the credit crunch, so people are watching their pennies.

"But I don't think customers are spending less because of a lack of 'feelgood' factor about declining house prices.

"In any case, with this good weather, customers are out and about again. At least they are there - even if they are being more careful with their money, perhaps buying cheaper brands than they might have done last year."

Nationally, the high street suffered its worst performance for three years, according to the BRC, as sales fell for the second month in a row.